SAN DIEGO, Nov. 21, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Applied Micro Circuits Corporation (NASDAQ: AMCC) breached their fiduciary duties in connection with the proposed sale of the Company to MACOM Technology Solutions Holdings, Inc. Applied Micro provides silicon solutions for next-generation cloud infrastructure and data centers.
On November 21, 2016, Applied Micro announced it had signed a definitive merger agreement with MACOM. Under the terms of the agreement, Applied Micro shareholders will receive approximately $8.36 per share, consisting of $3.25 in cash and 0.1089 MACOM shares per share of Applied Micro.
The investigation concerns whether the Applied Micro board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Applied Micro shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration; especially given that the price target for one Wall Street analyst is $11.00.
If you are a shareholder of Applied Micro and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP